FBD Holdings plc

Chairman's Address to the Annual General Meeting

10(th) May 2019

In the course of his address to shareholders at the Annual General Meeting today, the Chairman, Mr. Liam Herlihy, will make the following statement on current trading:

"FBD's 2019 trading performance to date has been good. The underlying profitability of the business is sound as we maintain our underwriting and pricing discipline in the face of continuing strong competition. Weather in the year to date has been benign with no significant events occurring.

While the current low interest rate environment persists, the global macroeconomic outlook has improved compared to Q4 2018. This has benefited our investment return in the year to date.

FBD has a strategy of growing its urban presence in a disciplined fashion and continuing to maintain its large market share in rural Ireland through the delivery of outstanding products and customer service. Brexit, and its likely impact, remains a major source of uncertainty for FBD, Irish farmers and Irish businesses. We continue to plan for any operational impacts which may arise and we will continue to support our customers through this transition."